Ethereum 2.0 has been running very smoothly so far, finalizing with a participation rate of some 97%, far higher than in any testnet.
The network is also doing a great job at keeping misbehaving validators in line for any transgression outside the rules of the code.
In fact more than 600 validators have been slashed so far, just a day after the new ethereum 2.0 Proof of Stake (PoS) blockchain went live.
The biggest slashed amount so far is just 0.23 eth, or about 0.7% of the 32 eth staking amount.
That’s just one person however and the first one to be slashed, with most losing ◊0.0136 and below.
On the other hand, thousands are making money with the biggest being at 0.0806 eth in just one day out of 32 eth, while the rest seem to be at 0.02 and below.
But the amount of slashing in just one day may indicate some are not appreciating the competitive nature of staking.
There have been some 21 forked blocks so far on ethereum 2.0, with one being forked as soon as the fifth epoch.
Then there are attestations. Wrong attestations can get slashing with the network not distinguishing between intentional misbehavior and accidental mistaken vouching.
For example according to Justin Drake, an eth 2.0 researcher, a validator got slashed for a block equivocation, that is the validator was telling different things with Drake presuming that is because he was running fancy validator redundancy that could bypass the slashing protections.
He however lost ‘only’ that 0.23 eth because “slashing penalties are designed to be lenient for isolated offences like these,” Drake says before adding:
“Mass slashings are heavily penalised (if X% get slashed they lose ~3X% of their balance)… also the minimum slashing amount was reduced for genesis and will be increased back to 1 ETH.”
Then there’s propagation. Connecting to as many peers as possible is good because you get a better view of the network, but that’s if your bandwidth can handle it.
Delays in propagating can lead to others taking your slot, meaning you lose the reward, and if you’re behind you may even make incorrect proposals, which gets you slashes.
All suggesting staking is not a very easy game even when it’s just you misbehaving usually unintentionally due to connection problems or due to trying to be too clever with fancy redundancy.
However the vast majority are making money. So while 600 validators might sound like a lot, it is still a small percentage of 21,000 validators currently running the ethereum 2.0 network and it is just a indication that all is running as it should.